emma: i am emma chandra and you are watching "bloomberg technology." president trump says he and the israeli prime minister are giving it a go in the middle east peace process. both leaders are in new york for this week's u.n. general assembly meeting. prime minister netanyahu said israel's alliance with the u.s. has never been stronger than with the trump administration. president trump isn't backtracking on his pledge to withdraw from the paris climate accord. that is according to his chief economic advisor gary cohn. gary cohn told officials conditions do not exist for the u.s. to stay in the deal.

demonstrators marched again in st. louis as protests continue over a white officer's acquittal in killing a black suspect. right police intervened late monday, using weapons and arresting more than 80 people. prosecutors say the officer who shot and killed the man -- the interior secretary is recommending six of 27 national monuments under review by the trump administration be reduced in size. they recommend two utah monuments be reduced. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. i am emma chandra. this is bloomberg. ♪ ♪

emily: i am emily chang and this is "bloomberg technology." coming up, margrethe vestager goes to washington. it is her job to keep big tech in check. the european commission joins us for a wide-ranging interview. slack sends a message to the competition with a funding round led by softbank. he spoke to us about a potential ipo and beefing up ammo in war for the corporate servicing services market. it makes one of its biggest marks to date on television's biggest night. why the big win is throwing hollywood into flux. european regulators are stepping up their pressure on u.s. tech companies. the european commissioner for competition at the helm, the e.u. has announced massive fines against apple and google. this week, she is in the u.s. visiting her counterparts as well as top political leaders.

i want to get to david griffin gura in washington. david, take it away. >> thank you for the time this afternoon on a busy day. let me ask you about the meetings you had today. you met with the ftc and doj. share the substance of those conversations. what were you talking to those counterparts about today? >> we don't show the substance because often we have the opportunity to take stock of open cases. since they are open, this is not something we can share with a wider audience. >> given what we have read in the news about vacancies of these departments, the fact that you people in interim roles, is that a frustration or proving to be difficult as you work with counterparts across the atlantic? is it different not having permanent appointees in place? >> maybe to some degree in the

beginning, i wondered, but now i have gotten to know maureen and andrew rather well. we have met a couple of times. there is such a strong culture of concrete cooperation between the teams because they share this culture of serving the consumer in the market. and therefore, it is very concrete, very direct. it is a very good cooperation. >> give me some insight into that cooperation. you are doing your own investigations, working on your own cases. that is happening in the u.s. as well. what is the ideal relationship like between your office and the ftc or doj? >> to some degree, we have a different legal basis so it is not the same. but with the necessary waivers from businesses, we can discuss and exchange to test hypotheses about would this be a competition concern. the case team called each other. sometimes, they come together.

we have had u.s. people coming over for our hearings. we go here if something concrete is happening. it is quite intertwined. of course, very respectful of the differences, but also very concrete on making it right and getting a high quality in the casework. >> a question to you as an observer of this place, you were here after the election so you have spent some time in d.c. does the terrain look different to you? does the rhetoric sound different coming to washington now eight months into this president's term? >> it is as if there is a renewed interest, more debate. i saw it already in the election campaign. i think there is more debate about how to make sure consumers are well served, how to make sure you have vibrant competition because competition is a driver not only for low prices and choice, but also for

innovation to be able to in the future be able to produce affordable prices and choice. a lot is going on here. i find that very inspiring. >> a couple of days ago, some senators proposed a new mechanism for enforcement. amy klobuchar among them. the point she was making as i understand it is that the rules and policies are outdated, we need to refresh them. taking a broad perspective on that, when you look at enforcement policy, does it need to be updated? do you feel policy has not kept step with where things are when it comes to technology? >> for obvious reasons, i have been looking at the european situation. we have been asking ourselves this in question because markets are developing fast. things are changing. i find our basic rules are fine because some of the motives are the same.

it is greed. it is fear, combined with power that can be a strong , and that can be a strong combination. we can deal with that. our challenge is to keep our tools sharp and develop new tools because we have to be as skilled when it comes to going through massive amounts of data as anyone else. that, of course, is a challenge, but we accept it to develop with the pace of the market participants. >> we talked about cooperation. how problematic is it if you are not on the same page? halliburton, baker hughes, for instance. in different camps, it seems like. what problems does that pose when you and the u.s. are not on the same page? >> it remains to be seen because we are not done yet. it happens quite rarely. when it happens, i think very often there are very concrete reasons the market situation is not the same. the market participants play different roles.

very often i find you have objective reasons when we divide in how we look at a case. >> how do you assess the efficacy of what you are doing? i think we first spoke after you levied a tax on apple of 13 billion euros. have you started to see changes as a result of that? has it had an effect on the way companies work from a policy perspective? the way they pay their taxes or don't pay their taxes. >> yes, i think that change is coming. it is slow because it takes some time. i think it will be faster when our courts have dealt with the cases. you also see member states change their legislation. in luxembourg and cyprus, in ireland on legislation allowing for what we call the double irish, which is being held phase phased out.

the legislature in the european union has changed. there is much more vigor. member states are much more ready to say we want a level playing field and we want our tax authorities to work together to get it right because we see so many businesses that pay their taxes as one would expect. that should not just be for the many. it should be for everyone. >> there was news today of northrop grumman want to buy atk, and you are seeing a lot of consolidation of very big companies reducing the size of the playing field in a number of sectors. is that inherently a problematic thing? does it raise concerns to see big companies merging, acquiring, and the field of players becoming smaller? >> it always depends because sometimes we see it may be possible for a merger to enable lower prices to consumers. efficiencies can be passed on to consumers. we never have an opinion beforehand.

we go into the analysis with an open mind to make sure post-merger consumers will be well served. >> give us some insight into how you decide which cases to take up, what the process is like that leads to the opening of a case. >> mergers they just knock on our door. those we do head on. in the antitrust cases, we would start looking into under the radar to see if there is something here. then we may do unannounced inspections to see if there is evidence to support our hypothesis. and then eventually, if we find we have a strong case. it is for any company troublesome to be in the searchlight of an antitrust investigation so we are very careful to make sure we find we have a strong case.

that does not mean we have anything but a preliminary look at a case when we start it. of course, it has to be something serious. otherwise, we should not do it. >> there is a perception that you are targeting american companies. i look back at the google fine of recent weeks, 2 billion euros. it seems to give grist to those who think you are going after american companies. i imagine a lot of what you are doing here is explaining yourself in the process and what companies you are looking at. what do you say to somebody who feels as though you are in unfairly seeking out american companies for action? >> first of all, i take this very seriously. bias has no home in european antitrust. it would be de-legitimizing what we are doing. the point is you have a single market that is open for business, but it is not open for bending rules. we also do have statistics on our side.

when you look at mergers or antitrust enforcement, you do not find any kind of u.s. bias. that of course is very important because it is not the flag or ownership of the company. it is the behavior in the markets we are concerned about. >> let's come back and talk a bit about google. we have more with the commissioner coming up on "bloomberg technology." this is bloomberg. ♪

emily: welcome back to "bloomberg technology." i'm emily chang. let's get back to washington with david gura standing by with the european commissioner for competition.

david, take it away. david: thank you very much. again, let's get into google. i think a lot of people are eager to hear about that issue in particular. google has 10 days to comply with the ruling you issued a few weeks back. what are you hoping to see by then? have you seen a draft at this point? do you have any sense of what google will try to do? >> yes. soon to be 90 days ago, we took the decision we found google is dominant in the european market of general search, and that google has been misusing this strong and dominant position to promote itself with the google shopping product and to demote competitors. on average, you would find competitors on page four in your search results. viewers can ask themselves, well, how often do i go there? you're always finding google shopping in the top left corner in the best placement. the decision says you have to

apply a principle of equal treatment between google shopping and competitors because you are dominant. now it is up to google to figure out how to do this because this is the only way to make a remedy future-proof. everything will change. but we still need these to be adhered to. it remains to be seen how google will live up to this. david: bloomberg is reporting today google is proposing an auction system. it would sell space to rival companies. that was proposed in 2013 with another issue. can you confirm that is the case and they have floated that as an idea? >> yes, we got a first draft of what they were thinking about two weeks ago, so we got a broad outline about what they are thinking. it is not for us to approve. it is for google to find a way to live up to the decision. this is very important because if google does not live up to the decision, we will start

investigating. well, what is the situation? is competition still harmed? so consumers have less choice. david: if you are not satisfied, when does finding start? when do you begin to calculate fines against google if they had not met the burden you would like them to meet? >> we can backdate the fine so will start from the first day we find there has been noncompliance with the decision. obviously, if we find market competitors that complain, consumers complain to say this is not what it was supposed to be, if we find reason, we will start investigating, then we can predate the fines if we find there is a breach of following up on the decision. david: can you give us a sense of the timetable with the other google cases? how close are you to resolution of those?

>> they are very different, the two cases, because one case concerns the placement of ads on third-party sites and whether or not that market was foreclosed. the android case is how android is used to stay dominant when we all go mobile so the experience from when you open the box of your new phone is a google experience. we treat those cases of high-priority cases, but it is very difficult to say when we will be able to take a final decision. david: can you say which is farther along than the other? are they both proceeding in tandem? >> they are different. we have two case teams. i don't know if they are competing as well, but we really put a lot of effort into this because it is important for all market participants to know what will be the final decision. david: a couple of months ago, darare speaking with

khosrowshahi, the head of expedia and expressing concern about google with regard to travel services. are there other parts of the deb business that concern you or might lead to investigations? >> we have a lot of complaints on other verticals. the thing is that with the google shopping decision, having established google is dominant in general search, when a company is dominant, competition is already weakened a little if you hold 90% of the market. this is where the special responsibility comes from, that you should not misuse your powers in your own market or neighboring markets, so this gives us a starting point looking at travel or locals. in that respect, yes, we will still take a strong interest in google behavior in other markets. david: in the context of google, you have levied this 2 billion euro fine. have you seen the company begin to change its ways, to work with your office to forestall further

fining? is there a dialogue between you and the company? >> yes, there is a dialogue. i find them to be very personal. we don't agree on these issues , but i think it is important no matter your disagreement. and here we are talking about a decision by the commission, but it is still important to have a professional relationship because we want a change in market behavior to enable competition so the markets serve the consumer. on that, hopefully we can find a way. david: thank you for your time. we appreciate it. back to you, emily, in san francisco. emily: thank you so much. coming up, the european commissioner for justice will be joining "bloomberg technology" this thursday to discuss the latest on the eu-u.s. privacy

shield. former cisco c.e.o. john chambers is stepping down from the board after 24 years. chuck robbins, who has been ceos since 2015, will take on the role of executive chairman. the change gives robin more complete control to steer cisco away from its reliance on high-priced hardware which provides most of its revenue. coming up, the competition for workplace messaging apps is heating up. slack is looking to solidify its standing with a boost from softbank. that is next. this is bloomberg. ♪

emily: the workplace messaging service slack has secured $250 million in its latest round of funding. more than half came from softbank's vision fund. earlier this month, slack, which has more than 6 million daily users, announced its service will expand to germany.

today, the c.e.o. spoke with "bloomberg surveillance" about the company's violation and potential for ipo. >> we are still relatively early , although we have grown fairly large. we are still growing as quickly as we can. we just had our first user conference in san francisco last week. we announced a number of big partnerships, but significantly, we have the launch of slack in german, french, and spanish, and that's why we are here in london. with projects like that, we have very little ability to predict how fast it will be growing. predictability is one thing we are missing as a public market company. >> i expect t-shirts to be put out with the concert venues. are from vancouver, so maybe it will be like heart from long ago and far away. here is the issue. guys in dark suits and bow ties look at an extrapolation of funds raised to $5 billion plus and go, what kind of dumb accounting is this? how do you as c.e.o. respond when the fancy guys in suits

and ties tell you you are worth $5 billion? i don't buy it for a minute. >> i love the question. we a little under four years in the market. we crossed $200 million in annual recurring revenue. we are still growing at 100% a year. 42% of the fortune 100. up to this point, we have been english language only. so we expect strong growth in europe and asia. >> within this is your ability to raise revenue. you have in your notes on your european tour that you are building revenue. what is the quality of that revenue stream? is it amazon quality, ebay quality, or is it a pie-in-the-sky? >> i am not sure exactly how to take the comparison there, but of the great things is the one revenue is recurring. over the three and a half years, we have had about 15% cumulative

churn per month. i am not going to say it is the best in the industry, but it has got to be close. we are building on that at a rapid pace. emily: the slack c.e.o. speaking with tom keene earlier today. streaming platform roku is aiming to raise as much as $219 million in its initial public offering. the company and selling shareholders are marketing 15.7 million shares for $12 to $14 apiece. 9 million will be sold by roku according to a filing with the fcc. roku has yet to turn a profit since its inception in 2002 and faces increasing competition from apple, google, and amazon in the crowded market of home streaming devices. coming up, how has the mega breach at equifax impacted the demand for cyber insurance? we will talk to the lloyd's of london c.e.o. inga beale. this is bloomberg. ♪

>> i am stephen engle with the latest first word headlines are president trump spoke with sheesh and paying, aiming to step up pressure on north korea. the two leaders agreed to enforce united nations sanctions to persuade kim jong-un give up his nuclear program. china has been a critic of u.s. policy on north korea, saying diplomacy is the only way forward. washington said beijing must do more to restrain it's been larger in ally. -- its belligerent ally. has hit out ofer china, saying the size of china's model creates

unnatural champions it distorts markets. the minutes from the most recent meetingrank of austrian show policymakers expects solid labor growth as the economy except steam. the rba noticed the risk of household debt outpacing income and that wage and inflation growth remains slow but stable and will be so for the foreseeable future. the rba's of the strong aussie dollar is weighing on growth and contribute to subdued inflation. -- contributing to subdued inflation. global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. a check on the markets, japanese stocks playing catch-up as the holds a two day loss. election speculation helping stocks in tokyo for higher

government spending. losses across the region, shares in manila leading the drop. most asian currencies are falling. check out the hong kong dollar. as theythe most announced they'd built sale planned. we are seeing movement in the g10 space. the canadian loonie resuming losses, saying it is keeping and i on currency strength, but the pound steady after rebounding. the aussie has trimmed the day's gains after the rba highlighted household debt risks. some asian equity movers, hyundai heavy leading stocks. alibaba health jumping in hong kong. climbing to a fresh record. , and then nintendo in

tokyo. check out lg display, leading as companies reconsider their plans to invest in china. that is the market snapshot. ♪ emily: i am emily chang and this is "bloomberg technology." the d.o.j. has opened a criminal investigation into whether top executives at equifax violated insider-trading laws. it will look into whether the c.f.o. and presidents of the information and workforce solutions units were aware of the massive data breach before they sold shares. equifax announced a discovered it discovered the breach july 29. the three sold shares in early august. in addition, equifax's insurance against cyber breaches is far from enough needed to cover the credit reporting companies costs tied to one of the biggest hacks

in history. joining us for an exclusive conversation about cybersecurity insurance is inga beale, c.e.o. of lloyd's of london. great to have you here in san francisco. high risk insurance, that is what you do. talk to us about the landscape for cyber insurance. how many businesses have this? how does it work? >> cyber insurance varies quite a lot. we can offer all sorts of different types of insurance. it has been in existence about 20 years. what has happened is in the u.s. in particular, the government introduced regulations around breach reporting. that voted it on the boardroom agenda in the u.s. the total cyber insurance market is worth about $2.5 billion. about 80% is coming from u.s. businesses. in terms of proportions of members of businesses that buy it, is basically in the u.s. emily: it is still a fairly small number of businesses that offer this.

it seems there is a lot of risk involved. it is inevitable almost that companies will get hacked. so, why bother? >> no business is immune from being hacked. however complacent people might be, they should be very aware of the threat. we have done some research. it shows about 92% of businesses think they are going to be hacked, but very few buy insurance against it. i think a lot of people have a lot of trust in their own risk mitigation. they think they have in place the right firewalls and things, but a lot of breaches actually happen because of human error. we have all the technology in place, but a lot of the time, it is some human mistake, not malicious, but some employee mistake. so no business can think themselves as immune. what is happening around the world to boost demand for cyber

insurance is regulation is coming in, in many other parts of the world. in the e.u. next year, there will be new data regulations, meaning businesses can be fined a lot of money if they are found not to be looking after their customers properly, not looking after their customer data properly, not informing customers of breaches. you go to australia, they introduced regulations. there was a 2000% uptick in cyber insurance demand. emily: have you seen an increase since equifax? >> i think it is too early. but any headline news about cyberattacks gets people thinking differently about it. they go, wow, i'm not sure i can be immune here. emily: as we reported, equifax's insurance likely covers around $100 million to $150 million. we are talking about damages in the tens of billions of dollars. what is the point if your insurance cannot cover the vast majority of it?

>> i think we are all learning. in the scale of insurance, 20 years is not a big space of time to have been selling this product. we are all learning. there were an enormous number of customers affected with equifax. we are always trying to learn from events, learning to assess all the damages. people choose a limit to the insurance that makes sense at the time, but every time we learn something, we have to reassess pricing and scale of damages. emily: talk about how you build your policies. every company can be hacked. it can take months or years before you realize a hack has happened. how does that impact the policies you are selling? >> lloyd's is unique in being a market, not a single unitary carrier. we have over 80 businesses writing insurance in our market.

it is through that collaborative nature of sharing risk that we have a lot of experts who get together. we work with modeling firms. we are doing a lot of work with science based in the u.s. who are trying to understand how we can model the interconnectivity of businesses across the world. while some of the hacks affect only one firm, we see other attacks which affect numerous firms. for us, it is not necessarily working out what an individual limit should be for a company is , it how we aggregate it across the world when this risk knows no geographic boundaries. emily: in the equifax situation, there is concern some executives may have known about it before the public and government was alerted. how does that impact the policies?

>> we do expect a certain professional behavior when we issue an insurance policy. there will be caveats around expected behavior. there might be such restrictions, and i'm not talking about any individual firm now, i am talking in general, individual restrictions on what mitigation they must take themselves in terms of employee training, firewalls, patching old software and things like that. as usual with insurance, we like to stipulate certain requirements. emily: it is a fairly small part of the market now. do you see this becoming as standard as general liability insurance? do you think it will always be a niche part of the market? >> i think it will become fairly standard. when we think of what technology is doing to all businesses, it is going to be one of the biggest risks businesses face. we look at the companies that make up the s&p 500. we look 40 years ago. 84% of the assets on the s&p 500 were tangible. they were physical assets.

we understood physical buildings. now it is completely reversed. 84% of those assets are intangible. it is technology, systems, data. that trend is going to continue. we have all got to get our heads around the changing nature of risk, particularly in the insurance sector, to make sure we are innovating fast enough to keep up with how businesses are changing. emily: inga beale, c.e.o. of lloyd's of london. fascinating part of your business. thank you so much for stopping by. >> thank you. emily there is a lot of debate : around bitcoin, but one thing for certain is it is full of volatility. the cryptocurrency rebounded from last week's slide and topped the $4000 level again. investor concern is easing the crackdown by chinese regulators will hinder growth. there is a believe that traders in china are likely to turn to alternative exchanges or seek loopholes. china banned initial coin offerings and plans to ban

trading of bitcoin and other virtual currencies on domestic exchanges. whose historic night at the emmys. what the streaming service did that neither netflix nor amazon have been able to achieve. this is bloomberg. ♪

emily: the most iconic magazine in the music industry is up for sale. the "rolling stone" owner is putting his stake up for sale. it is struggling with years of losing advertising and membership.

he sold a 40% stake in september of 2016. it was an historic night at the emmys as hulu became the first streaming service to take home a win for outstanding drama. "the handmaid's tale" took home the big prize. netflix took home 20 trophies. hulu won 10 in all. in july, i asked the hulu c.e.o. about the show and he sounded like he was looking into a crystal ball. >> we started original programming five years ago. our most recent batch started about a year and a half ago. we have been in business with some of the best. but this one is really special. it has broken through in a way nothing ever has for us, so we are really excited about it.

emily: joining now from l.a. to discuss streaming's big night, lucas shaw. i'm curious what the buzz is now in hollywood and what this means for hulu going forward. >> surprise, really. if you asked anyone a couple of years ago which would be the first streaming service to win a big award at the emmys, they probably would have said netflix, maybe amazon. they have made more shows and gotten more attention. with hulu, this is the first breakout. i spoke with most of the executives last night. they thought elisabeth moss was going to win for best actress. some of them certainly hoped they would win best drama nobody . saw them taking five different categories and sweeping the drama field. emily: does the prestige translate into viewership? >> that is a great question. i think it really matters in the industry. it is going to be a good lure for talent and producers to say , we can compete with amazon, netflix.

in terms of viewership, i'm sure they getting marketing advantage. hulu just hired a new head of marketing from google. her job just got easier. you can put on everything "emmy-winning show." how much it means to the average viewer is less clear to me. it is not a show that has like thein culture oscars or grammys. last night about 12 million people watched. not as big as an audience for other shows. emily: does it give netflix and amazon concern? >> >> certainly a little bit. netflix has been the leader in streaming tv. even though they will downplay how much they care about winning awards, they spend a fortune trying to win because they know it can help them in some way. i am sure they do not like that hulu was there to beat them, that these big media companies

that bash them can say our streaming service won first. in the grand scheme of things, netflix still won 20 awards, four last night. they had the second most nominations of any network, so i think they probably also feel it is a matter of time before they have that show that breaks through. emily: talk to us about how you expect the online content race to shape up between hulu, amazon, netflix, and apple. this certainly makes it clear it can be anyone's game. >> yeah. look, all it takes is one hit. that is what anybody in the entertainment business will tell you. the question is how many chances to get at it. netflix is spending so much money and making so many shows , they have more chances to get one hit than other people. that being said, fx and hbo have been more disciplined and how much they spend. they would argue they only make the highest quality as compared to some of the garbage netflix throws out there.

the question is, can apple or other tech companies entering the space find that project? netflix early on had to take a lot of the b or c scripts because people were not sure what they were or what an original project on netflix would look like. now that apple is coming around, there is so much competition for great material. be ablee are going to to get their hands on the great material? that we don't know. emily: lucas shaw in hollywood. it is going to be an exciting race. thanks so much. coming up, how one company is using u.s.-based teachers to teach english to children in china. we will dig into the latest ed tech trend. this is bloomberg. ♪

emily: vipkid is an online education company matching chinese students with teachers in north america. it has been valued at more than $1.5 million after a funding including investors tencent and sequoia capital china. i spoke with the c.e.o. and asked about the rapid growth since it was founded four years ago. >> we have over 200,000 students and over 20,000 teachers. we will be having revenue of 750 for 2017 on august

31. we saw a revenue of $9.95 million per day. students are mostly in china. we have 2% of students from other countries out of china. we launched a couple of weeks ago teaching kids around the globe through mentoring. now we have over a few hundred students learning on our platform. emily: you have teachers in china teaching mandarin to students around the world. >> yes, we are connecting the world. emily: talk to me about why online education seems to have taken off in china more than in the u.s. and other places around the world. why do you think that is? >> i would say the growth factor contributes to a few reasons. one is demographic reasons. parents are big in learning english. it is a $15 billion u.s. market by size, and it is growing by 20% per year with 18 million new

babies each year. secondly, the market demand is huge. the supply is limited. we have over 27,000 north american teachers in china. vipkid alone has more teachers than we do in the country. parents love high-quality teaching and are willing to invest in this sector. we are seeing more than 10% penetration of online learning in the existing market, and it is growing really fast. emily: some skeptics say online education will remain a small part of the total industry. do you agree with that? >> i do not necessarily agree with that because for the past few years, it was 2% market penetration for english learning for kids, but this year, it will be close to 10%. 10% is when e-commerce takes over the retail market.

education is delivered online so it is knowledge sharing. the penetration will be way higher than what happened with retail. emily: how much higher than 10% do you think it could be? >> 30%, 40%. this can be ubiquitous because of the nature of the service , connecting learners and teachers across the globe. this is beautiful. emily: do you think it will work best with foreign languages? do you see this working across all disciplines? >> i think this will work across all disciplines. we are seeing a lot of adult learning online on other platforms. now with the possibility of k-12 knowledge graph across the globe, you see the kids using all these tools from when they are little and they are using it not only for english learning , but also content-based learning, math, science, and

everything else. emily: talk about your strategy. you set yourself apart by recruiting american teachers. explain. >> this is unique for the children in china because we only focus on highest quality content, and higher the best loving and caring teachers that can work with them. this strategy, parents love it because it provides the best quality program for the kids. and also not only that, as a company, our strategy is always to advance learning science. now we are working with others. emily: what do you mean by learning science? >> it means that of all the data we are creating on our platform almostay, we are doing

2.19 million classes in august , so we are creating 100 terabyte data every month. all these videoconferences are very unique learning data. from that we are able to discover how they can best learn, how their interests can be best stimulated and how we can tailor the content so they can learn well. we can make learning more efficacious by empowering both learners and teachers by all this research in big data and ai. emily: that was the c.e.o. of vipkid. that does it for this edition of "bloomberg technology." a reminder, we are live streaming on twitter. check us out on weekdays. that is all for now. this is bloomberg. ♪

♪ yousef: markets building overnight gains in new york. investors seemed relaxed ahead of the fed meeting. shery: president trump prepares to address the united nations. he is expected to confront the threats of iran and north korea. yousef: saudi arabia sells nearly $2 billion worth of islamic bonds. shery: where to invest in africa.